RSSCFPB announces rule limiting overdrafts
The Consumer Financial Protection Bureau released a final rule Dec. 12 limiting the overdraft fees banks with more than $10 billion in assets can charge.
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Spotlight
News
CFPB places Google’s payments division under supervision
The Consumer Financial Protection Bureau recently placed Google’s payments division under its supervisory authority, leading to a lawsuit from the company.
CFPB distributing $1.8 billion to consumers from credit scheme
The Consumer Financial Protection Bureau is returning $1.8 billion in “illegal junk fees” to 4.3 million Americans impacted by a large credit repair scheme, the bureau announced Dec. 5 in a press release.
CFPB issues rule to oversee nonbanks issuing payment wallets
The Consumer Financial Protection Bureau recently finalized a rule to oversee the largest nonbanks offering payment wallet applications and digital funds transfers.
CFPB: Student loan relief positive for majority of borrowers
Sixty-one percent of borrowers impacted by the federal government pause on student loan payments during the pandemic made positive changes in their lives, according to a Nov. 13 report from the Consumer Financial Protection Bureau.
CFPB warns companies against unchecked digital tracking
The Consumer Financial Protection Bureau recently warned companies against unlimited digital surveillance of employees. Issued Oct. 24, the guidance called on companies to follow the Fair Credit Reporting Act when using third-party consumer reports, including background dossiers and surveillance-based algorithmic or “black box” AI scores.